Contact us anytime to know more — Amit A., Founder & COO CISIN
Although it is difficult to visualize the impact of machines making quicker and more accurate decisions than humans, one thing is certain: 2022 will see breakthroughs and trends in AI and ML.
Top Artificial Intelligence Trends That Will Dominate the Market in Upcoming Years
All over the globe, artificial technology trends are generating much buzz. This technology has revolutionized nearly every sector of various industries.
The automation of business workflows has made it possible for industries to thrive since artificial intelligence. Every business, from small-scale start-ups to established businesses, wants to reap the benefits of this incredible technology.
According to SEMrush reports, the value of the AI market worldwide will rise rapidly over the next years. It is expected that it will reach $190.61 trillion by 2025.
According to artificial intelligence growth statistics, global GDP will increase by $15.7 trillion by 2030.
At first, AI was thought to be only about robots. AI has evolved to become an integral part of our daily lives. AI is integrated into almost all aspects of our lives, including home appliances, smart cars, media streaming devices, personal gadgets, and personal gadgets.
The business also favors AI for improving customer experience and business management functions.
These are the top reasons AI has gained much popularity during pandemics.
-
Understanding pandemics, forecasting them, and finding a cure
-
Understanding shifting consumer needs
-
Virtual experiences made more real
-
Go fully digital
-
Robots are empowering the human workforce by making way for robots
-
Cybersecurity
-
Smarter digital devices
These are the factors that AI will be able to shape our future post-coronavirus. Keep reading to see how artificial intelligence will change our reality.
Intelligence-Driven Automation
It is a mixture of RPA (robotic processing automation) and Artificial Intelligence. Automation is designed to simplify business processes and streamline activities.
This combination uses AI to gather data and analyze different ways to improve performance. The data collected is then used to automate business processes.
This process can be automated in an AI-integrated system without human intervention.
Artificial intelligence can also be used to automate elements of supply chain management, inventory, and other operations to reduce wastage and increase operating budgets.
Businesses face a challenge because these AI systems can be complex and difficult to adapt to their specific needs.
Companies will need to be able to rely on an array of AI and processing systems, which use different data sets and algorithms as they develop intelligence-driven automation.
Companies are increasingly looking for AI specialists because they can ensure their AI-driven automation systems work correctly and provide the desired benefits.
AIOps Become More Popular
The complexity of IT systems has increased over the past few years. Forrester recently stated that vendors want platform solutions that include more than one monitoring discipline, such as infrastructure, application, and networking.
AIOps solutions can help IT operations and other teams improve their decision-making and tasks. They also allow for better analysis of the volume of data coming in.
Forrester advised IT leaders to search for AIOps providers that will enable cross-team collaboration via end-to-end digital experiences and data correlation.
Conversational AI
Conversational AI is a technology that allows speech-based interaction between users across platforms and users, especially to engage users at scale better.
It requires utilities like speech recognition, speech processing, and machine learning.
ReportLinker revealed that the market for conversational AI will increase from $6.8 billion in 2021 to $18.4 trillion by 2026.
This phenomenon is due to an increased demand for AI-enabled customer service services, the adaptation of omnichannel strategies, continuous engagement, and the increasing demand for chatbots during COVID-19 limitations.
We can expect advancements in conversational AI systems due to the increasing demand.
Generative AI
Many organizations have used the latest advances in artificial intelligence to automatically develop algorithms and tools to generate 3D and 2-D images.
These calculations are basically what structure Generative AI. This allows machines to use content, sound, images, and other information to create content.
Generative AI, one of the most recent innovations in artificial intelligence, can also be used to help in medical care.
It renders prosthetic limbs, organ molecules, and other things from scratch when activated by 3D printing, CRISPR, and other potential advances. It can also identify early signs of malignancy and help with more efficient treatment plans.
Artificial Intelligence in Cybersecurity
Although the World Economic Forum has emphasized the importance of cybercrimes, it is not rocket science to see that cybercrimes are increasing.
Cybercrime is on the rise as we increasingly rely on machines in all aspects of our lives.
It is easy to see that adding more devices to your network creates a failure point that attackers can use to gain access to your data and misuse it.
Networks are becoming more complex every day. Artificial intelligence is a key component of this. AI can detect patterns in network traffic and alert users to suspicious activity using smart algorithms.
There will be a lot of AI development in cybersecurity.
The Metaverse
The metaverse, a virtual world similar to the internet where users can interact with each other and enjoy immersive experiences, is called the metaverse.
Since Mark Zuckerberg, Facebook's CEO talked about merging VR technology and the Facebook platform, the topic of the metaverse has become a hot topic.
AI and ML are certain to be the underlying principles of the metaverse. This technology will enable an enterprise to create a virtual environment where its users feel at home.
These virtual AI bots can help users choose the right products or services and help them relax and unwind by playing games.
Low/No code AI
Organizations face a major challenge: a shortage of AI engineers who can create the necessary tools and algorithms.
This problem can be solved by creating intuitive interfaces that are simple to use and can be used to build complex systems on Artificial Intelligence.
You can drag and drop modules and features onto a page using these web design tools. No-code AI systems can also be used to create smart applications.
They combine multiple pre-created modules and insert specific data. Language Modelling and Natural Language Processing are two technologies that can give voice-based instructions for various tasks.
AI-Driven Vehicles
Vehicles, including aircraft and boats, are another area in which AI will become the brain of a system. This will enable companies to offer exceptional travel experiences to their customers.
A classic example of an AI-driven car is Tesla. It offers a breath-taking driving experience. It also prevents accidents, as the car's AI engine can anticipate upcoming obstacles and help to avoid any type of road accident.
Each year, 1.3 million people are killed in road accidents. These alarming statistics show that AI can play a crucial role in stopping this tragedy from ever happening.
Tesla has confirmed that its self-driving cars will be available by 2022. However, it is unlikely that it will be commercially available on the market by 2022.
With the Mayflower Autonomous Ship (MAS) powered by IBM artificial intelligence, we anticipate AI being used in ships.
Top Companies that Have Put Their Trust on Artificial Intelligence Technology
All of the tech giants around the globe, from Amazon to Alibaba, are competing to be the leaders in artificial intelligence (AI).
These companies are AI pioneers and embrace AI to offer next-level products. These are just 10 examples of the most impressive ways these companies use AI solutions.
Many of us are still puzzled by how AI is being used by large and small businesses in the present world, even though we have seen some breakthroughs from acclaimed tech companies like Apple, Google, and Tesla.
Amazon
Amazon is dependent on AI not only for Alexa, the digital voice assistant, but AI is also an integral part of many aspects of its business.
Amazon also uses AI to recommend products to customers before they buy them.
Amazon stores data about the buying habits of its users. They use predictive analytics to recommend products to customers based on their preferences and interests.
Amazon Go, America's largest online retailer, offers a new convenience shop concept.
There is no need to check out at other shops. Amazon Go on your smartphone uses artificial intelligence technology to track what you buy and automatically charge you for them.
There is no checkout, so that you can bring your bag. Cameras also monitor your movements to help identify each item in your bag and ultimately charge you.
Netflix
Another big company is Netflix, which has made Artificial Intelligence (and data) a core business unit. Netflix has integrated modern AI algorithms to suggest new content to its users based on their watch history.
Netflix's personalized content is created by filtering large amounts of data and adopting AI. Netflix uses Artificial Intelligence to recommend personalized thumbnails for its users automatically.
Another area in which Netflix uses AI is to optimize streaming for its users. Pre-production of original movies and series has been another area in which AI is integral to Netflix.
Alphabet - Google
Alphabet is Google's parent company. Waymo, Google's self-driving tech division, started as a Google project. Waymo is a self-driving technology division that aims to improve safety and mobility for people all over the globe.
The company's self-driving taxis currently transport riders around California with its autonomous vehicles.
The company cannot charge a fare now, and a human driver is still driving during the pilot program. DeepMind was acquired by Google, which showed its commitment to deep learning.
The system learned 49 Atari games and the AlphaGo program beat a professional Go player. Google Duplex is another AI innovation by Google. An AI voice interface that uses natural language processing can schedule appointments and make phone calls for you.
Apple
Apple has been dependent on AI integration in its business operations. This makes it easy for developers to create applications dealing with machine learning on Apple devices.
Core ML gives developers access to machine learning tools that can be used to do common tasks like image recognition. Apple created the Create ML toolkit in 2018 to assist developers with learning the basics of building machine-learning models.
Apple integrated a neural engine into the iPhone X's A11 processor to accelerate AI-specific tasks. Developers can quickly create applications that benefit from AI-focused hardware and machine learning capabilities by leveraging the development tools.
Apple's virtual assistant Siri is another major application of AI. It uses voice queries and a natural language user interface (UI) to make calls, send text messages, answer questions, and provide recommendations.
Siri can adapt to the languages and searches of users and their performances.
Facebook uses Artificial Intelligence (AI) and Machine Learning to predict the interests of its users. Facebook Watch uses location information to recommend content to users by analyzing their friends' likes and location.
These prediction capabilities can predict future behavior, and display products users may buy.
Facebook uses AI technology for image recognition. It can identify faces in photos and prompt users to tag them.
This technology is very important to the company as photos are a prominent feature on the platform.
IBM
For many years, IBM has been at the forefront of artificial intelligence. Since Deep Blue's IBM computer was the first to defeat a human world champion in chess, it's been over 20 years.
It continued that feat by winning other man-vs.-machine competitions, such as the Jeopardy game show with its Watson computer. Project Debater is IBM's latest achievement in artificial intelligence. This AI was a cognitive computing engine that competed against two professional debaters.
It formulated human-like arguments.
Tencent
Tencent, a Chinese social media company, has integrated artificial intelligence into its operations to achieve its goal of becoming "the most trusted internet enterprise." Tencent relies heavily on artificial intelligence.
Tencent has over 1 billion users of its WeChat app. However, it has expanded its reach to gaming and digital assistants, mobile payment, cloud storage, live streaming, education, movies, and self-driving cars.
Tencent's slogan is "AI in All." Tencent collects much information about its customers and uses it to its advantage.
Alibaba
Alibaba, a Chinese company, is the largest e-commerce platform globally. It sells more than Amazon and eBay combined.
Alibaba uses artificial intelligence (AI) to help predict customers' buying habits. The company generates product descriptions automatically using natural language processing. Alibaba also uses artificial intelligence solutions in its City Brain project, creating smart cities.
This project uses AI algorithms to reduce traffic jams and monitor every vehicle within the city. Alibaba Cloud, a cloud computing division, also helps farmers monitor their crops and cut costs through artificial intelligence.
Cogito
Cogito uses AI to enhance the emotional connection with customers during sales and customer service calls. The firm uses AI to make the interaction more humane than humans alone.
Cogito software interprets conversations in real-time, providing prompts and clues. This could include a speaker not responding quickly, cutting too much, or holding too long.
Cogito software also allows for color-based alerts and updates. To assess the emotional quality of an interaction, the software can evaluate hundreds of indicators.
Tesla
Tesla's Artificial Intelligence has allowed it to be used to concentrate on only 2 areas: All-electric propulsion and autonomous driving.
The firm's self-generated AI chips aim to ensure that cars can navigate through freeways and streets and traffic signals.
Two AI chips support the Tesla system for improved road performance. Each AI chip assesses traffic conditions to guide the car accordingly.
If the input from both chips is identical, the system matches the assessments and follows up.
The Key Takeaway
These are only a few examples. These are just a few examples of companies that have used Artificial Intelligence in interesting and attractive ways.
AI has had a significant and dominating impact on the world today.
This technology threatens many traditional occupations but also opens up new opportunities. As technology becomes more prominent, it is important to consider speed, accuracy, and assurance factors.
